Top 10 Highest Insurance Claims in Aviation History

Top 10 Highest Insurance Claims: Flight accidents are not only tragic in their human toll but also in their financial losses. Aircraft cost, settlements in litigation, loss of earnings, and property damage or third-party damage can result in staggering insurance claims. Here is a review of the top 10 largest aviation insurance payments in history, the most costly air tragedies ever experienced.

1. Malaysia Airlines Flight MH370 (2014) – $500 million

The enigmatic disappearance of MH370 with 239 passengers on board generated a massive global search. Though the plane was never comprehensively recovered, insurers paid out around $500 million, including passengers’ compensation and loss of aircraft.

2. Air India Flight AI-2025 (2025) – Estimated $475 million

In one recent tragedy, Air India’s Dreamliner crashed just minutes after takeoff in Ahmedabad, killing 241 of 242 passengers and crew. Preliminary insurance estimates indicate claims of almost $475 million, one of the biggest in Indian aviation history.

3. Malaysia Airlines Flight MH17 (2014) – $330 million

MH17, which was downed over Ukraine, killed 298 people. Aircraft and liability insurance covered approximately $330 million in claims.

4. Air France Flight 447 (2009) – $330 million

Crashing while en route from Rio to Paris, the Airbus A330 took all 228 aboard with it. There were massive recovery operations and settlements that resulted in a $330 million insurance claim.

Also Read: Air India Plane Crash: ₹4070 Cr Insurance Claim vs ₹1 Cr Compensation

5. American Airlines Flight 11 and United Flight 175 (9/11 Attacks) – Over $2.8 billion (combined claims)

These aircraft collided with the World Trade Center. Although this incident involves life and property insurance settlements, claims on aircraft alone were one of the highest.

6. Swissair Flight 111 (1998) – $750 million

Crashing in the Atlantic ocean just off Nova Scotia, this crash generated huge compensation, primarily from high-net-worth travelers and court settlements.

7. Asiana Airlines Flight 214 (2013) – $300 million

Though the majority of the passengers were alive, the San Francisco crash had significant legal settlements and plane damage fees.

8. Concorde Air France Flight 4590 (2000) – $150 million

The accident shut down Concorde’s commercial operation. Loss of the plane and damage to third parties resulted in heavy claims.

9. Japan Airlines Flight 123 (1985) – $100 million

The largest single-aircraft crash in history with 520 fatalities, the crash initiated massive insurance settlements.

10. Lockerbie Bombing (Pan Am Flight 103, 1988) – $900 million

A bombing by terrorists over Scotland resulted in broad legal claims, making it one of the most expensive aviation-related insurance claims.

Aviation claims highlight the magnitude of financial loss from air disasters. As technology advances and passenger traffic increases, insurers still have to contend with sophisticated challenges managing aviation risks.

Also Read: Air India Claims ₹4070 Cr Insurance, Offers Peanuts to Families?